Being a co-op member means having control over your housing.
It also means you have a responsibility to make sure that your co-op is a well-managed and pleasant place to live.
If you join a co-op, you will be expected to do the following:
- buy shares in the co-op
- pay a monthly housing charge
- attend members’ meetings
- participate in running the co-op by participating in a Member Committee
- help with maintenance
- organize social events
Before you apply to become a member, ask yourself if you will have the time and energy to participate in your co-op. The above guidelines are part of the co-operative principles which all co-operatives put into practice:
- open membership
- democratic member control
- economic participation
- independence
- co-operative education
- co-operation with other co-operatives community
We invite you to view our Sunset Point Co-Op Member Manual, the rules and obligations our community has developed and agreed to abide by. This will give you a clear idea of the expectations – and obligations – of our members to each other and our community as a whole.
Who lives in co-ops?
Housing co-ops are mixed communities. Members of housing co-ops come from a variety of backgrounds and have a wide range of incomes. Some members pay the full housing charge. This is often called a “market” housing charge. Other members with lower incomes pay less. This is called a subsidized housing charge. Some units in every co-op are subsidized.
What is subsidy?
Non-profit housing co-ops receive money from the government (federal and/or provincial) to help the co-op subsidize a certain number of housing units. The housing charge for these units is adjusted to the income of the household. If a household qualifies for a subsidy, their housing charge is usually set at 25-30% of the household’s income plus charges for utilities.